Ong Beng Seng’s HPL wins go-ahead to redevelop Orchard Road properties

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HPL House, along with The Forum and voco Orchard Singapore, recently received provisional permission for redevelopment from the Urban Redevelopment Authority. This is in light of an ongoing graft-related probe involving the company’s managing director, Ong Beng Seng.

In total, the approved gross floor area for the proposed mixed development is approximately 1.23 million square feet and is considered one of the largest redevelopment projects along the famed Orchard Road shopping belt. The properties combined land area was 150,986.66 square feet, and the total land area for the sites added up to 14,027.12 square meters.

The initial plan for the redevelopment includes two tower buildings of 64 and 43 storeys on a 6-storey podium with a rooftop garden, a performance theatre, and a basement carpark. A separate 29-storey tower will be erected over the contiguous basement carpark. All of these redevelopment plans would transform the particular area of Orchard Road into a significant, vibrant, and prominent precinct within the area.

In response to the news, HPL’s typically thinly traded shares surged at the market close of August 28, closing at $3.90, which was a 10.8% increase for the day.

Details and timeline of the proposed redevelopment are still being worked on by the company and its professional advisors, and nothing has been solidified at this stage. If and when the project is completed, it will serve as a gateway destination on Orchard Road and will provide direct connectivity between the site and its neighbouring developments. This project could be a critical mass of mixed activities for the Orchard Road area.